Tabcorp revenue jumps 71.7 percent to record $28.7 million profit

Gaming giant Tabcorp has swung to a net profit of $28.7 million in 2017/18 after last year was marred by costs related to its merger with Tatts, legal battles and UK business.

The latest results - up from a $20.8 million loss a year ago - were cut back by significant items of $217.5 million, including additional merger costs and costs related to the loss-making Sun Bets and Luxbet operations.

Full-year revenue jumped 71 per cent to $3.83 billion from $2.22 billion a year earlier, with the group declaring a final dividend of 10 cents a share fully franked, taking the total for the year to 21 cents a share.

CEO and Managing Director David Attenborough said Tabcorp had experienced a "company defining year".

"FY18 has also been a year of positive change for the gambling sector," said Attenborough.

"A number of reforms have been introduced which aim to make the industry more sustainable. The introduction of point of consumption taxes, the prohibition of synthetic lottery products, advertising restrictions and improved consumer protection measures are creating a fairer playing field.

"Tabcorp is very well placed to perform in this improved environment."

Tabcorp shares were up 34.5 cents, or 7.7 per cent, at $4.84.5 at 1110 AEST.